Question 3 (20 points): Two firms (Cyber Electronics and High-tech) are conducting the same business in chip manufacturing. The two companies have the same processes and suppliers, however, Cyber electronics faces lower gross profit margin as compared to High-tech. The gross profit margin for cyber electronics was 30%, while that of High-tech is 50%. Both companies have the same sales. Answer the following: 1. What is the reason of this difference in gross profit margin? 2. By how much as a percent, the costs in both companies may differ. 3. If the total cost for both cyber electronics and high-tech is $24,000, what would be the cost of goods sold for both companies? Question 3 (20 points): Two firms (Cyber Electronics and High-tech) are conducting the same business in chip manufacturing. The two companies have the same processes and suppliers, however, Cyber electronics faces lower gross profit margin as compared to High-tech. The gross profit margin for cyber electronics was 30%, while that of High-tech is 50%. Both companies have the same sales. Answer the following: 1. What is the reason of this difference in gross profit margin? 2. By how much as a percent, the costs in both companies may differ. 3. If the total cost for both cyber electronics and high-tech is $24,000, what would be the cost of goods sold for both companies